"Baby and mother are happy and healthy and the new parents are thrilled," says Christina Papadopoulos, the actor's rep.

Last November, the actor, who plays father to Penn Badgley and Taylor Momsen on the popular series, told PEOPLE he was expecting parenthood to change his life. "Before you have a child, everything is about you," Settle said. "But my wife, and us having a child, makes me want to be a better man."